Consumer Law

MIchael W. Hudson Quotes Ameriquest Loan Officer: "Every closing that we had really was a bait and switch,"

By Jeff Sovern

MIchael W. Hudson interviewed industry insiders for his new book, The Monster: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America--and Spawned a Global Crisis.  It won't be out until October 26, but you can read a fascinating excerpt here.  The excerpt and subtitle suggest that this book will focus much more on the conduct of the predatory lenders themselves than other accounts of the subprime crisis have.  It sounds like the book will help add to our understanding of why so many people took out loans they couldn't repay.

Full post as published by CL&P Blog on October 10, 2010 (boomark / email).